Cotton futures are posting midday gains of 55 to 80 points on Thursday, following US production cut from USDA. The dollar index is down 83 points, with crude oil futures back up $1.83/barrel to help support the market. 

Export Sales data showed 116,052 RB of cotton sold for export in the week that ended on September 5, a 3-week low. Weekly export shipments were 119,136 RB in that week, the lowest in the 5 full weeks of the marketing year.

USDA Cotton Ginnings data showed a total of 466,700 RB of cotton had been ginned by September 1, all in TX and down 3.67% from the same time last year. 

The monthly Crop Production report showed acreage relatively unchanged, with yield down 33 lbs/ac at 807 lbs. That helped to drop the production total by 596,000 bales to 14.512 million bales. Exports were trimmed by 200,000 bales with the overall stocks total down 500,000 bales to 4 million bales.

The Seam ported 3,571 online cash cotton bale sales on Wednesday, averaging 65.26 cents/lb. ICE cotton stocks were unchanged on September 11, leaving 265 bales of cert stocks. The Cotlook A Index was up 50 points on September 11 at 79.60 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points last Thursday to 57.27 cents/lb. It will be updated later today.

Dec 24 Cotton  is at 70.39, up 78 points,

Mar 25 Cotton  is at 71.81, up 64 points,

May 25 Cotton  is at 72.91, up 55 points